By Ryan Vlastelica
NEW YORK (Reuters) - Companies in the mobile payment space soared on Friday, rallying on massive volume in their second major daily surge this week.
Net Element Inc was the biggest percentage gainer on the Nasdaq, up 60 percent to $5.08 on volume of about 12 million shares, well beyond its 50-day average of about 675,000 shares. On Track Innovations Inc jumped 12.5 percent to $3.70, also on heavier-than-usual volume, while USA Technologies added 4 percent to $2.17.
The sector, which is mostly comprised of small companies with market caps below $100 million, had also jumped on Wednesday, after Apple Inc announced Apple Pay - a wireless payment system that will launch next month. Net Element has more than tripled this week alone.
EBay Inc, which counts PayPal as a wholly-owned subsidiary, rose 1.7 percent. The stock jumped as much as 4.7 percent on Friday on market speculation that Google Inc was preparing to buy a stake in the company, rumors that eBay dismissed, cutting the stock's gain.
(Editing by Nick Zieminski)
